OMass Therapeutics a biotechnology company identifying medicines against highly validated target ecosystems such as membrane proteins or intracellular complexes, today announces that it has entered into an exclusive collaboration and license agreement with Genentech, a member of the Roche Group, for the rights to develop and commercialize OMass’ preclinical oral small molecule program for inflammatory bowel disease.

“Using our OdyssIONTM platform, we’ve been able to make significant progress on this novel first-in-class target with a differentiated mechanism of action in inflammatory bowel disease,” said Ros Deegan, CEO of OMass Therapeutics. “Genentech brings a strong legacy of innovation in immunology and world class scientific expertise, making them an ideal partner for this program. We are delighted to be partnering with them and build on the progress we have made to date.”

"There are nearly eight million people living with IBD who are in need of innovative treatment approaches," said Boris L. Zaïtra, Head of Roche Corporate Business Development. "Despite recent advancements, there is still a high unmet medical need which fuels our commitment to partnering with companies such as OMass Therapeutics focused on innovation to accelerate potentially transformative medicines and advance science."

Under the terms of the agreement, OMass will receive an upfront payment of $20 million, plus additional potential preclinical, development, commercial and net sales milestone payments of more than $400 million. OMass is also eligible for tiered royalties on net sales. Under the collaboration, OMass will lead the initial preclinical development of the program until candidate selection. Genentech will be responsible for clinical development, regulatory activities, manufacturing and commercialization.

Source: globenewswire.com